So buy your own admission...you follow the monthly chart with a downtrend. And as a day trader you have been shorting Aussie for months now? Been shorting it since it was under .7000??? I can't see that being good for your account. Really my point ...

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Because I'm a day trader who trades on the 1hr charts and using the 4hr and Daily charts as reference for trends/support/resistance areas. Monthly charts don't mean much to me. Now if I was a position trader I would use monthly charts...but I'm not ...

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I'm not talking about the monthly, I've said numerous times on here we have been trending up on the Daily chart since mid January. Please go back and read the thread again.

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Looks like your long has paid off as we just reached .7700 again. Great job! Once again, trading with the trend proves to put the odds in your favor of having a winning trade. Which is the basis of my whole method. Can you make pips trading both ...

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Spike up, spike down, now price back up near the top of the spike higher. What's your thought now? No follow through on any selling. Perhaps just ranging or slightly bullish?

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I'm not sure what you are getting at...but your charts and my charts will tell you the same thing. Just before Asian session(and before ANY news) price started moving up from .7670 to .7690. Then Asian session opened and a little false selloff ...

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Technically it wasn't moving up well before the last piece of cny news.

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Last Westpac was -2.2%, tonight's was -4.0% (there was no forecast listed)...but it looks worse than the previous to me.(not that I trade news numbers...I only trade how price reacts to it...and price went up, so bulls in control).

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And there you have it, the .7700 level I said last night it was going too. Bad Aussie news and Worse than expected China trade...yet we are reaching new highs on Aussie. We are back to the old theme of buy Aussie no matter what news is. Happy ...

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Well, both my 1hr and 4hr charts are a bit messy...no real trend to follow...just the .7500-7700 range still. The Daily chart is still in an uptrend as there hasn't been a Lower High or Lower Low for months(start of uptrend was Middle of January). ...

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I forgot to ask, did you enter that trade before the drop down to .7620 or was it after the current rally from .7620 up to .7685?

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Thanks for the encouragement! I think you're right on the short around.7660...should be good for 30pips or so. Cheers!

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Don't recall ever saying that I'm always right sport.

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Won't be surprised if we go retest .7700 again. I WILL be surprised if price gets below .7500 this week.

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that little dip below .7600 just made back my earlier loss. Will look again tomorrow for a trade. Cheers

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Normal ADR on Aussie is around 100pips/day. That would put today's rally near .7630(+/-10pips)...if price makes it up there and stalls I'll try one more short and my target will only be to make back what I lost on the first trade. Some days are just ...

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Well, after my above post...price initially went 10pips in my direction..and then 40pips straight up. not sure why, no news or anything. All I can see though is that A/J is heading up, Eur/Aud is heading down...so there is Aussie strength right now ...

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A short here around .7570 might be good...stop around .7590(or just above .7600 if you can afford the risk). Standard 30-50pip target. Happy Trading!

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good discussion on here guys, keep it up. As for me, this pull back exceeded how far I thought it would go. In fact, price action was tough for me to figure out this week. The bullish inside daily candle on Wednesday failed me. The bearish engulfing ...

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That's crazy in my mind...I could never hold a trade that long. There just aren't enough pips in it to make it worth my time. I do far better day trading. Not to say your method is wrong, if it works for you...keep going. It's just not for me. Many ...

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